If I did purchase I would still have to demo in 15 days to conform with the city, leaving me with the demo costs also, now I'd be out of pocket about 9k for the lot.

Yolanda you might have been better off to get a litigation attorney to take this pro-bono (free until they win).The thing about bankruptcy and creditors is you can file an amendment to add more creditors to the list.It depends on where the BK is at in the process (filing,meeting of creditors,conformation hearing -approving the proposed plan,etc.) and type of BK being filed.How much is the security deposit??

If the seller does not have operating statements or rent rolls, than most likely this will be a hard money deal to purchase the property until you can show the property can debt service a conforming mortgage. 

Also your first lien is taking up all the conforming loan limit.

The condo approach will allow seperate ownership, but from then on, this will be a non-conforming finance situation (it is anyway).

I was looking for anyone's thoughts on non-conforming properties.

look at the interest rate, currently rentals with conforming mortgages I'm paying roughly 5%,,now the question is, would I rather have cash and be paying the interest (less tax deduction, which reduces that to maybe 3 1/2%), or no have cash and save that interest cost.I personally will take all the 5% money I can get, I won't do a deal with a cash of cash return of less than 25%,,,so yes, I want to make that and pay the 5% (as noted really 3.5%) in interest.If the deals get to the point I'm could only make, say 15% cash on cash, and I was paying 10% on my money, I would re-evaluate thatEveryone's situation is different,,what's right for me might be wrong for someone else

Allowable spans for lumber used as roof sheathing shall conform to Table R803.1.

The agencies want to make money so require you have a conformation number to log into their site to dispute.    

You don't have to give a blow-by-blow account, but maybe a broad overview like first 4 were conforming mortgages, second 2 were sub2 deals, next 3 were bought using a line of credit against the first 4..etc.